Exclusive
scalehealthtech Realize your Healthcare’s Digital Transformation journey with ScaleHealthTech Learn More

Oncare Secures $1 Mn in Seed Funding for Affordable Cancer Treatment

Written by : Aishwarya Sarthe

October 4, 2024

Category Img

This partnership model helps reduce cancer treatment costs by up to 40%, making care accessible to a larger population.

Gurugram-based Oncare, a cancer-focused healthcare startup, has raised $1 million in seed funding led by Huddle Ventures. Other participants in the funding round included TRTL Ventures, Cloud Capital, and DeVC. 

Founded in 2023 by Deepak Kumar and Amar Sneh, Oncare aims to address the pressing issue of costly cancer treatment in India by partnering with 50-100-bed hospitals to establish dedicated oncology wings. 

This partnership model helps reduce cancer treatment costs by up to 40%, making care accessible to a larger population.

Oncare’s Expansion Plans

Oncare’s primary goal is to make cancer treatment affordable for underserved patients by utilizing underused hospital spaces.

In comparison to treatments in corporate hospitals, which can exceed INR 10 lakh, Oncare’s model offers a more economical alternative without compromising the quality of care. 

The funds from this seed round will be used to open 10 new cancer care centers in key cities such as Delhi-NCR, Bangalore, and Jaipur within the next two years.

Deepak Kumar, co-founder of Oncare, stated, “This $1 million investment will enable us to expand our footprint and reach more patients across India. We plan to open 10 new centers over the next two years, focusing on areas where affordable cancer care is desperately needed.” He added that the funding will also go towards growing the clinical and administrative teams to ensure that Oncare continues delivering high-quality care while scaling operations.

“The expansion will allow us to make specialized cancer care more accessible and affordable to a wider patient base. We aim to transform cancer care delivery in India by building a network of centers offering compassionate, cost-effective care,” Kumar noted.

Aiming to Tackle India’s Cancer Crisis

Cancer remains a growing concern in India, with cases projected to rise to 1.57 million by 2025, according to a report from Apollo Hospitals. However, high treatment costs and limited availability of oncology facilities make cancer care inaccessible to many. 

Oncare seeks to fill this gap by offering a viable, cost-effective solution that repurposes unused hospital infrastructure to create dedicated cancer care wings.

“Our mission is not just to offer affordable treatment but to ensure that every patient receives comprehensive and compassionate care,” said Kumar. 

Oncare’s model aims to bridge the gap in healthcare access, particularly for underserved patients who often face both financial and logistical challenges when seeking cancer treatment.

Huddle Ventures’ founding partner, Sanil Sachar, expressed his confidence in Oncare’s approach. “Access to quality healthcare is a basic right, yet it remains beyond the reach of many. By backing Oncare, we hope to address the inconsistency in cancer care across India. Oncare’s model has the potential to become a leading provider of affordable oncology treatments across the country,” Sachar said.

Current Operations and Future Plans

Oncare has been operational for the past 10 months, with its first center established in South Delhi. Over this period, the startup has guided more than 2,500 patients on treatment plans and completed over 500 treatment sessions. 

On October 1, Oncare expanded its presence with the launch of its first center in Ghaziabad. The company also plans to open its first center in West Delhi by November 1, furthering its mission to expand its network.

Commenting on the company’s impact so far, Kumar stated, “So far, we have provided treatment guidance to over 2,500 patients and completed more than 500 treatment sessions. Our Ghaziabad and West Delhi centers will allow us to further our mission to provide affordable, high-quality cancer care to millions of underserved patients.”

Oncare is strategically expanding to regions where specialized cancer treatment is scarce. This network of centers is expected to make a significant difference in addressing India’s growing cancer burden, especially for patients who are financially constrained.

The company’s future growth plans include launching more oncology centers in partnership with hospitals and making its model scalable while continuing to prioritize affordability and quality.

Stay tuned for more such updates on Digital Health News.


ABOUT US

Digital Health News ( DHN) is India’s first dedicated digital health news platform launched by Industry recognized HealthTech Leaders. DHN Is Industry’s Leading Source Of HealthTech Business, Insights, Trends And Policy News.

DHN Provides In-Depth Data Analysis And Covers Most Impactful News As They Happen Across Entire Ecosystem Including Emerging Technology Trends And Innovations, Digital Health Startups, Hospitals, Health Insurance, Govt. Agencies & Policies, Pharmaceuticals And Biotech.

CONTACT US

© Digital Health News 2024